Wellhead Equipment Market Research Report 2019, Industry Trends, Share, Size, Demand and Future Scope

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The global wellhead equipment market is currently experiencing a steady growth. Wellness equipment refers to a device that is installed at the endpoint of casing and tubing strings on the surface of oil and gas wells. It consists of casing spools, isolation seals, test plugs, mudline suspension systems, tubing head, and tubing head adapter, which are used to seal the well and suspend casing. These devices can be reused and repurposed for other well and drilling procedures and configured according to the pressure, temperature, location, size of the well, and drilling methods.

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The global wellhead equipment market is primarily driven by the growing production and exploration activities in the oil and gas industry. Wellhead equipment helps in performing numerous functions, such as pressure monitoring, pumping access and casing and tubing suspension, for providing well access and a means of pump attachment. Besides this, governments of various nations have introduced favorable initiatives to explore sustainable oil extraction options, which in turn is providing a boost to the sales of wellhead equipment. Moreover, manufacturers are making considerable investments in developing innovative product variants that support harsher and unapproachable drilling environments, thereby creating a huge demand for wellhead equipment.

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Breakup by Component:

  • Hangers
  • Flanges
  • Master Valve
  • Choke
  • Others

Breakup by Application:

  • Onshore
  • Offshore

Breakup by Sector:

  • OEM
  • Aftermarket

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Aker Solutions ASA, Baker Hughes, Cameron International Corporation, Forum Energy Technologies Inc., Nabors Industries Ltd., National Oilwell Varco Inc., Oil States International Inc., TechnipFMC PLC, Weatherford International PLC, Weir Group PLC, etc.

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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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